Dusting attack on Litecoin bites the dust

Cryptocurrency exchange recently confirmed that someone tried to dip their dirty hands into the fourth biggest altcoin, Litecoin. The official Twitter handle claimed that a major attack against users of altcoin Litecoin took place. The firm made this claim in a tweet on Aug. 9:

The tweet was supplemented by a link which, as per Binance, was also a part of the attack. The transaction showed the dusting attack sending a fraction (0.00000546 LTC) of a coin to 50 addresses. This is one of those rare times when one gets worried about receiving money. Furthermore, the exchange also links to an explanation of a dusting attack:

“A dusting attack refers to a relatively new kind of malicious activity where hackers and scammers try and break the privacy of Bitcoin and cryptocurrency users by sending tiny amounts of coins to their personal wallets.”

The attackers can then trace the activity of this small amount and hence, with some heavy-duty analysis, get information about the victim. Think of it as a tracer sitting right inside of your cryptocurrency wallet.

Dusting continues to be a big threat for cryptocurrency enthusiasts, as cryptocurrency exchanges deal with their increased frequency.